Binance Coin (BNB) cryptocurrency: overview of the Binance exchange token, rate and chart, forecast. How to buy BNB token
Binance Coin (BNB) is a token of the Binance exchange (website: binance.com). It is used to pay commission fees on the exchange and for trading in a pair with 57 cryptocurrencies: BTC / BNB, USDT / BNB, LTC / BNB, XEM / BNB, etc. According to the Whitepaper, Binance Coin holders have a discount on payment of the trading commission on the exchange : 50% – in the first year; 25% – in the second; 12.5% - in the third; 6.75% – for the fourth and no discount for the fifth year. Also, the acquisition of Binance Coin will allow you to participate in IEO, Launchpad and Launchpool, receive increased partner rewards, etc.
Read Also: how to buy Binance Coin (BNB)
Discount when paying trading commissions in BNB:
Updated. The 25% discount on trading commissions has been extended.
BNB token price to USD
|Name||Price||Market Cap||Supply||Change % (7D)||Performance|
BNB to USD chart
Binance Coin (BNB) to Tether (USDT) chart
BNB / USDT chart on exchanges:
|Token type||BEP2 (Binance Chain), BEP20 (Binance Smart Chain),ERC20 (Ethereum network)|
|Blockchain||Ethereum, Binance Chain, Binance Smart Chain|
|Observers||https://explorer.binance.org/, https://etherscan.io/; https://bscscan.com/;|
|In circulation as of 14.12.2021||168 137 035 BNB|
|Total emission||168 137 035 BNB|
|Capitalization as of 14.12.2021||87 113 791 383 $|
|Social networks||https://www.binance.com/ru/community, https://twitter.com/binance, https://vk.com/binance, https://www.youtube.com/binanceyoutube, https://www.instagram.com/Binance/|
|Exchanges||Binance, FTX and others|
Binance Coin (BNB) Addresses
Examples of BNB addresses for different blockchain networks:
- ERC20 (Ethereum (ERC20): 0xd5d4e657263e968327b16b1c25e5a466c2ba8ac2
- BEP2 (Binance Chain (BNB)): bnb136ns6lfw2zs5hg4n85vdthaad7hq4m4gtkgf23
- BEP20 (Binance Smart Chain (BSC)): 0xd5d4e657263e968327b16b1c25e5a466c2ba8ac2
For Ethereum and Binance Smart Chain networks, the address is the same.
What affects the BNB rate
The success of the exchange was reflected in the value of Binance Coin. During the ICO, the token could be bought for $ 0.1. On April 6, 2018, the BNB token rate is already $ 12. The maximum value was noted on January 12, 2017 – $ 22 for one Binance Coin.
Updated. After the launch of its own blockchain network Binance Chain, the BNB rate rose to $ 22. On April 12, 2021, the price reached $ 638.
The Binance Coin (BNB) token rate is influenced by:
- The general mood of the cryptocurrency market.
- News regarding the activities of the exchange. Hacking or banning Binance activities can seriously affect the BNB rate and the entire cryptocurrency market, since the site is one of the largest in the world in terms of turnover.
- Limited emission, redemption and burning of tokens.
- Development of the Binance Smart Chain (BSC) network.
The outlook for the BNB rate is generally positive. The recent news of the transfer of Binance exchange to Malta and the announcement of the creation of a decentralized exchange have pushed the price up despite the falling cryptocurrency market.
Information about Binance Coin (BNB)
Binance Coin was released in July 2017 during an ICO (Initial coin offering), the purpose of which is to attract investments for the development of the Binance exchange. The BNB token standard is ERC 20, operates on the Ethereum blockchain and is not available for mining.
Updated: Binance Chain launched on April 18, 2019 and all BNB tokens will move to its blockchain by April 23.
As of April 18, 2018: the maximum number of tokens is 200 million, of which 188 million are in circulation. Capitalization is $ 4.1 billion. The cost of one Binance Coin is $ 21.82.
Official site – https://www.binance.com/ru/bnb.
According to the terms of WhitePaper, the exchange uses 20% of its profits for the quarterly redemption of tokens, then destroys them. There will remain 100 million BNB, which will be transferred to its own blockchain. They are supposed to be used as an internal currency on the decentralized exchange, the creation of which they announced in March 2018.
Under the terms of the ICO, 50% of the issue of Binance Coin tokens were distributed among investors, 40% – received by the team, 10% – by venture investors. It was possible to collect 15 million US dollars, the exchange was supported mainly by investors from China. The amount is small, as some projects raised a larger amount without a working business and products. Half of the money went to advertising and brand promotion; 35% – for platform development, modernization and security; the remaining 15% is directed to the reserve fund.
As a result of all the events held in the fall of 2107, the Binance exchange became the leader in terms of the volume of cryptocurrency trading. The number of clients increased by a million per week. In January 2018, the registration of new traders was closed for some time. The daily volume is 195 thousand BTC or $ 1.2 billion.
How to buy Binance Coin
You can buy a BNB token on the Binance exchange, through cryptocurrency exchanges and wallets, using DEX platforms. There are 57 currency pairs represented on Binance, 80% of the trading volume falls on the BNB / BTC and BNB / USDT pairs. You can buy a coin only for cryptocurrency, since the service does not work with fiat money.
Instructions on how to buy and exchange Binance Coin:
- Register at binance.com. In the form, enter your e-mail, a strong password. Read and agree to the Terms of Service. You will receive a letter to confirm registration to the specified e-mail. When you log into your account, a warning about the need to connect 2fa authentication will appear. You can ignore the notification, but for safety, 2fa should be enabled.
- For trading on the Binance exchange, verification is not required, but there is a daily limit of 2 BTC per withdrawal.
- Top up your balance by going to the “Asset” – “Deposit” section of the site. We recommend that you do this in the currency that Binance Coin is traded with. The most liquid pairs are BNB / Bitcoin and BNB / Tether. To replenish with cryptocurrency, transfer it to the wallet address.
- Go to the trading platform (“Shopping Center” – “Main”) and select a cryptocurrency pair with Binance Coin.
For example, BNB / BTC means that you will buy Binance token with Bitcoin.
- Study the order book, trading history and the rate chart.
- Fill out an application specifying the order type Market or Limite. In this case, select the% of the deposit, in the “Quantity” line you will see how many Binance Coin tokens you will buy. Market order – instant execution at the best price from the order book of opposite orders. Limite is an order in which you set the purchase price yourself. It can be executed or not, in the latter case, it can be recreated with a more competitive price.
The history of trades is saved for 24 hours, the Filled status means that your order is executed:
Received BNB-tokens are stored in the wallet of the exchange in the “Asset” – “Balance” section.